Progress Software Co. (NASDAQ:PRGS) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its stake in Progress Software Co. (NASDAQ:PRGS - Free Report) by 967.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,709 shares of the software maker's stock after acquiring an additional 32,364 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.08% of Progress Software worth $2,326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its stake in shares of Progress Software by 45,918.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker's stock worth $74,474,000 after purchasing an additional 1,140,626 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of Progress Software by 74.2% during the third quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker's stock valued at $39,728,000 after acquiring an additional 251,125 shares during the last quarter. Citigroup Inc. lifted its position in shares of Progress Software by 42.8% in the third quarter. Citigroup Inc. now owns 492,384 shares of the software maker's stock valued at $33,172,000 after acquiring an additional 147,457 shares in the last quarter. Systematic Financial Management LP boosted its stake in shares of Progress Software by 10.5% in the third quarter. Systematic Financial Management LP now owns 544,417 shares of the software maker's stock worth $36,677,000 after acquiring an additional 51,568 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Progress Software by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker's stock worth $70,418,000 after purchasing an additional 43,936 shares in the last quarter.

Analysts Set New Price Targets

PRGS has been the topic of a number of recent research reports. Jefferies Financial Group boosted their price target on shares of Progress Software from $65.00 to $70.00 and gave the stock a "hold" rating in a research report on Monday, January 6th. Citigroup upped their price target on Progress Software from $65.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. DA Davidson reiterated a "buy" rating and set a $75.00 price objective on shares of Progress Software in a research report on Tuesday, January 21st. StockNews.com downgraded Progress Software from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Guggenheim reissued a "buy" rating and set a $83.00 price target on shares of Progress Software in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $72.43.

Progress Software Trading Down 1.1 %

Shares of NASDAQ PRGS traded down $0.60 during trading on Monday, reaching $54.04. The stock had a trading volume of 800,019 shares, compared to its average volume of 757,054. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $2.34 billion, a P/E ratio of 34.64, a PEG ratio of 2.82 and a beta of 0.93. Progress Software Co. has a fifty-two week low of $48.00 and a fifty-two week high of $70.56. The business's 50-day moving average price is $59.88 and its 200-day moving average price is $62.49.

Insider Activity

In other news, CAO Domenic Lococo sold 1,000 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.24, for a total value of $56,240.00. Following the sale, the chief accounting officer now directly owns 4,303 shares in the company, valued at approximately $242,000.72. This trade represents a 18.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anthony Folger sold 15,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the transaction, the chief financial officer now owns 44,564 shares of the company's stock, valued at approximately $2,508,953.20. The trade was a 25.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,482 shares of company stock worth $984,621. Corporate insiders own 3.40% of the company's stock.

Progress Software Company Profile

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.